Best Motorcycle Insurance

It's important to compare multiple companies when looking for the best motorcycle insurance policy. You can compare our top picks below.

The post Best Motorcycle Insurance appeared first on LendEDU.

There’s nothing like riding a motorcycle. With the wind in your hair and the open road, it’s a thrill like any other.

Want to keep enjoying those thrilling rides for many years to come? Then adequate motorcycle insurance is vital. Use this guide to compare your options and find the best motorcycle insurance for your needs.

In this guide:

• Compare the best motorcycle insurance
• 5 best motorcycle insurance companies
• How much does a motorcycle insurance policy cost?
• Is motorcycle insurance required?
• What type of coverage can you receive with motorcycle insurance?
• How can you save on your motorcycle insurance policy?
• How to choose the best motorcycle insurance

Compare the best motorcycle insurance

Insurer	A.M. Best Rating	Best For
Progressive	A+	Overall coverage & discounts
Dairyland	A+	Specialized coverage
Markel	A+	Multi-bike coverage
GEICO	A++	Loyalty discount
USAA	A++	Military members

5 best motorcycle insurance companies

Not all insurers are created equal. To make sure you’re choosing the best insurance company for your needs, see our expert reviews below.

Best for overall coverage and discounts: Progressive

Progressive is well known in the insurance world, offering everything from home, car, and rental coverage to life, business, and, you got it, motorcycle insurance. The company has an A+ A.M. Best rating, and its auto insurance offerings helped it claim one of the top spots on J.D. Power’s customer satisfaction rankings.

Based on our research, Progressive is the best overall motorcycle insurer because of its wide array of coverages and the many discounts the company offers.

All Progressive motorcycle policies automatically cover your bike’s full replacement cost, up to $3,000 in accessories and custom parts, and coverage for bodily injury, property damage liabilities, uninsured/underinsured motorists, comprehensive and collision, and medical payments. Add-on coverages include roadside assistance, enhanced injury protection, and a disappearing deductible, which gets you 25% off your deductible for every claim-free period.

That’s not the only discount, though. The company also offers reduced premiums for advance quotes, multi-policy holders, members of certain associations, riders with a motorcycle endorsement, and more.

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Best for specialized coverage: Dairyland

Owned by Sentry Insurance, Dairyland offers auto and motorcycle policies in the majority of U.S. states. The company has an A+ rating with A.M. Best and a 4.5 out of 5 rating on Trustpilot.

Dairyland is our choice for the best-specialized coverage. The company offers special equipment and premium coverage options, including roadside assistance, rental reimbursements, and coverage for mopeds and scooters. Basic coverages include bodily injury, collision, comprehensive, medical expenses, and more. Guest passenger coverage is also available.

Discount-wise, Dairyland’s options are numerous. You’ll get a premium reduction if you have multiple bikes, own a house, are a member of specific organizations, or you take a safety course.

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Best for covering a variety of bikes: Markel

Markel is a specialty insurance company offering coverage for small business owners, motorcyclists, boat and ATV owners, and art collectors. They’ve been in business for nearly a century and hold an A+ A.M. Best rating.

We ranked them as best for multi-bike owners (and collectors, too) because of the vast array of bikes covered. The company covers everything from street bikes and mopeds to cruisers, trikes, and custom motorcycles.

Markel’s standard motorcycle policies include collision, comprehensive, property, passenger, bodily injury liability, medical payments, funeral expense coverage, and coverage for mechanical breakdowns, trailers, and uninsured/underinsured motorists. There’s also $1,000 in automatic accessory coverage, and you can add on additional coverage for trip interruption, roadside assistance, and rental reimbursement.

Discounts at Markel are plentiful. You’ll get a premium reduction for having anti-lock brakes, anti-theft alarms, multiple bikes, being a safe driver, and more. There’s even a 10% discount just for switching from your previous insurer.

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Best for its loyalty discount: GEICO

GEICO is widely known for its car insurance options, but they also insure motorcycles. The company is one of the highest-rated insurers on our list, clocking in an A.M. Best rating of A++. GEICO is also one of the top-rated insurers in terms of customer satisfaction, according to J.D. Power.

GEICO stands out for its sizable loyalty discount, which offers riders a 20% premium reduction just for renewing their policies. There are also hefty discounts for taking safety courses, holding multiple policies with the company, or just being a “mature” driver.

The company offers the standard fare of coverages, including comprehensive, collision, property damage, and more. There are also add-on options for roadside assistance, accessories, helmets, and personal injury protection.

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Best for military members: USAA

USAA specializes in insurance coverage for military members and their families, so it’s no surprise the company is our pick for best motorcycle coverage in that category. The company’s well-known for its excellent customer service and holds an A++ rating from A.M. Best.

Bike-wise, USAA covers several models, including cruisers, dirt bikes, touring bikes, mopeds, and scooters. Standard policies include comprehensive, collision, property damage liability, bodily injury, and medical payments coverages. Uninsured/underinsured motorist coverage is also included.

The company offers many discounts, including a 5% discount for being a USAA member and discounts for claims-free periods, taking a safety course, or insuring multiple motorcycles.

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How much does a motorcycle insurance policy cost?

The average cost of motorcycle insurance clocks in at just under $1,200, but actual costs depend on many factors. The amount of coverage you choose plays a role, as does how often you use the bike and the amount of mileage you average each year.

Other factors that can impact your premiums include:

• Your credit score
• Your age and gender
• Your location
• Your driving history
• The model and age of your bike

Rates vary by insurance company, too. That’s why it’s essential to shop around for your policy.

Is motorcycle insurance required?

Motorcycle insurance is required in the majority of U.S. states, just as car insurance is. There are also minimums you must carry in many places in terms of comprehensive, collision, and liability insurance. You can learn more about minimums in your area by contacting your local Department of Motor Vehicles.

Additionally, if you’ve financed your bike using a loan, your lender or bank will likely require insurance as well. You’ll need to check with them about any minimum coverage requirements.

What type of coverage can you receive with motorcycle insurance?

Motorcycle insurers offer many options when it comes to coverage. The exact choices vary by provider, but here are some of the more common options you can expect to encounter:

• Comprehensive and collision: This covers repairing or replacing your motorcycle if it’s damaged or totaled.
• Property damage and boldly injury liability: This will pay for legal costs if you damage property or hurt someone while on your bike.
• Uninsured/underinsured motorist coverage: If another driver hits you and their insurance won’t cover the full damage, this type of coverage can fill in the gap.
• Medical payments or personal injury protection: This covers medical bill costs if you or a passenger is hurt while riding.

There are many other options, too, including coverage for accessories, specialized or custom equipment, roadside assistance, and more.

How can you save on your motorcycle insurance policy?

Most insurance companies offer a variety of discounts that can help you save cash on your premiums. Going accident-free for some time can also usually reduce your rate.

Here are just a few of the standard discounts offered by major insurance companies:

• Safe driver, for those who go accident-free or claim-free for certain periods of time
• Multi-policy holders, if you insure your car, home, or other valuables with the same company
• Renewing your policy or switching from another insurance provider
• Taking a safety course or getting a motorcycle endorsement on your license

You can also reduce your rate by increasing your credit score or opting for a “lay-up” policy, which essentially suspends your policy (and the premium you pay on it) during periods when its unusable (like during winter).

How to choose the best motorcycle insurance

Motorcycle insurance policies vary widely from one company to the next. To be sure you’re getting the best coverage at the best price, it’s important to shop around and compare your options.

When doing this, look at the policy’s overall costs, the included coverages, the discounts offered, and the company’s claims process. Customer reviews and ratings should also come into play, as should its add-on coverages.

Recap of the best motorcycle insurance companies

Company	Best For
Progressive	Overall coverage and discounts
Dairyland	Specialized coverage
Markel	Multi-bike coverage
GEICO	Loyalty discount
USAA	Military members

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